The Taoiseach says no banking inquiry will put people behind bars saying that is the job of the courts.

Enda Kenny has also left open the possibility of re-running the referendum to give more powers of inquiry to an Oireachtas Committee.

A similar referendum was rejected in 2011 by a 52 to 48% majority.

But he says for now the Oireachtas should hold an inquiry into what happened in the run-in to the bank guarantee who met who and what was the culture.

The Taoiseach is again defending the government plans to hold a parliamentary inquiry into the 2008 bank guarantee.

His comments come amid the on-going public outrage over the revelations in the phone call recordings between senior Anglo Irish Bank executives.

They reveal the toxic bank deliberately misled the Central Bank as to how much the bailout would cost and they also suggest Chief Executive David Drumm was happy to abuse the guarantee - in one extract, he is heard to say that he advised staff not to be found abusing the system.

While the journalist who broke the story on Independent.ie says there are more recordings to come.

The Fianna Fail leader Micheal Martin says a parliamentary inquiry does not have the powers to hold non political office holders to account.

However speaking in the Dail Enda Kenny says it will establish what happened in 2008.